Latest News
Everi Holdings to Acquire Assets of Video King
Everi Holdings announced that it has entered into a purchase agreement to acquire certain assets of VKGS LLC (Video King), a privately-owned leading provider of integrated electronic bingo gaming tablets, video gaming content, instant win games, and systems for cash consideration of approximately $59 million to be paid at closing, subject to customary net working capital adjustments.
Everi expects to complete the transaction within 60 days, subject to customary closing conditions. The acquisition, which will include the majority of Video Kingâs assets, will be funded from existing cash on hand and is expected upon closing to be immediately additive to the Companyâs Adjusted EBITDA and Free Cash Flow.
The acquisition is expected to provide Everi with complementary assets and an established customer base to enable additional growth in its Games segment. Currently licensed in approximately 60 jurisdictions, Video King is expected to expand the addressable market for Everiâs player-popular digital gaming content. Subject to regulatory requirements, an estimated 20% of Video Kingâs installed base of portable e-gaming tablets may be enabled to provide players with traditional bingo games and Class II video poker, slots and instant win games, as well as with a digital wallet and loyalty products. Video King generated revenue of more than $25 million in 2022, primarily from recurring revenues generated by an installed base of more than 50,000 portable electronic bingo tablets in tribal casinos, commercial casinos, charitable bingo halls, military bases and cruise lines, as well as from the sale of traditional bingo equipment and consumable products.
âOver the past several years, we have had great success with executing on acquisitions that grow our product capabilities and the markets we serve. During this time, we have established a track record of successfully scaling up acquisitions that have delivered an attractive return on investment and helped drive strong cash flow. We are highly confident that by helping to elevate our current Games, FinTech and Digital solutions with and adjacent to our established customer base, the acquisition of Video King will meet those same criteria and offer Everi with another lever for growth,â Randy Taylor, Chief Executive Officer of Everi, said.
âVideo King provides Everi with an expansive new channel to deploy our growing catalog of digital iGames, as well as enhance the player experience by incorporating our digital wallet and loyalty products, while adding a new source to generate recurring revenue. With an expanding demographic audience looking to engage in increased social and leisure activities, we see a significant opportunity to collaborate with the Video King team to develop new gaming content and play enhancements to optimize player engagement and drive increased customer traffic,â said Tim Richards, Everi Executive Vice President, Chief Strategy and Digital Officer.
âWe are confident that as part of Everi, Video King will be in a very strong position to expand our product offerings to provide our long-time loyal customer base new enhanced games for our tribal, charitable and military markets. The combination of Everiâs games and other digital offerings with our strong electronic bingo base create a unique opportunity to accelerate future growth,â said Tim Stuart, Chief Executive Officer and co-founder of Video King.
Latest News
Plaza Hotel & Casino again celebrates New Yearâs Eve with live fireworks show
Located in the heart of downtown Las Vegas, the Plaza Hotel & Casino will again celebrate New Year’s Eve with a full evening of celebrations in classic Las Vegas style, complete with a delicious dinner at Oscar’s Steakhouse, a special performance of the new and ever-changing variety show Mavericks, complimentary champagne toasts, and downtown’s only live fireworks show at midnight on Tuesday, Dec. 31.
The Plaza’s annual New Year’s Eve fireworks display is a spectacular show for people downtown and visible for miles.
The Plaza’s Carousel Bar located under the property’s iconic dome will be at the heart of the evening’s festivities. Carousel Bar will offer an unmatched location to celebrate the new year with handcrafted cocktails, and just steps away from the best vantage point downtown to watch the fireworks, the portion of Main Street in front of the Plaza that will be closed to vehicles during the show.
As part of its NYE Room Package, the Plaza will hold an all-ages viewing party of the fireworks for hotel guests only on its rooftop pool deck. The room package also includes 25% off room rates (two-night minimum stay) and complimentary early check-in and late check-out (based on availability). The NYE Room Package is available to book online.
Before the fireworks, the award-winning Oscar’s Steakhouse will offer a holiday a la carte menu with exclusive New Year’s Eve specials. Restaurant diners will also enjoy a complimentary champagne toast. at midnight while watching the fireworks show from under the dining room’s glass dome. Reservations are recommended and can be made online or by calling 702-387-7227.
Entertaining audiences with its fabulous blend of comedy, circus, burlesque and variety, Mavericks will offer an affordable 9:30 p.m. performance on New Year’s Eve without any holiday price hikes, proving that thrilling entertainment in Las Vegas doesn’t have to break the bank.
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino will hold Las Vegas’ first-ever $160,000 New Year’s Eve Super Bingo event, Tuesday, Dec. 31 through Wednesday, Jan. 1. If booked by Dec. 16, participants can play and enjoy a 5-night stay from Sunday, Dec. 29 through Thursday, Jan. 2 for just $400, with no resort fees (after Dec. 16 the stay and play registration price rises to $600).
Super Bingo players also receive as a bonus $20 in free slot play.
Revelers can end the night with an after party at The Sand Dollar Downtown, which will welcome The Moonshiners playing live Great Gatsby/Prohibition Pop from 10:30 p.m. to 1:30 a.m. There is no cover for the live performance, which is open to guests 21 years or older.
Canada
Aviatrix enters North America for first time with Ontario launch
Award-winning crash game Aviatrix is now live in North America for the very first time, after securing a licence and certification in the Canadian province of Ontario.
Aviatrix has been granted a Gaming-Related Supplier (B2B) Licence by the Alcohol and Gaming Commission of Ontario (AGCO), meaning Ontario-licensed operators can now offer the game.
It’s the first time players in North America will be able to enjoy Aviatrix, marking another major milestone in the remarkable two-year journey of the game.
Aviatrix was helped through the AGCO licensing and certification process by BetComply.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: âWe committed to expanding Aviatrixâs regulated footprint, and this is another huge step. Weâre already present in many markets across Europe, so it is fantastic to add a province in Canada to the list. We are sure that players in Ontario are going to find Aviatrix every bit as enjoyable as their counterparts elsewhere.â
Aviatrix has added multiple new regulated markets over the past few weeks, including Italy, Sweden and the Netherlands.
It was also recently named âGame of the Yearâ at the EGR Operator Awards 2024.
Arizona
Arizona Department of Gaming Cease-and-Desist: Bovada Online Gambling
The Arizona Department of Gaming (“ADG”) has taken action against an overseas gaming company in Curaçao that is allegedly operating illegal online gaming sites, Bovada.com and Bovada.lv (Bovada), accessible to Arizona residents. Following an investigation into the matter, the ADG sent a cease-and-desist letter to Harp Media B.V., which operates Bovada, on November 8, 2024.
The operation of Bovada in Arizona is alleged to be a felony criminal enterprise and Bovada has been directed to desist from any future illegal gambling operations or activities of any type in Arizona. Due to the unregulated and illegal online gaming offerings on Bovada, Harp Media B.V. is claimed to be in violation of Arizona gaming laws, including:
- Promotion of Gambling (Felony) — Ariz. Rev. Stat. Ann. § 13-3303.
- Illegal Control of an Enterprise (Felony) — Ariz. Rev. Stat. Ann. § 13-2312.
- Money Laundering (Felony) — Ariz. Rev. Stat. Ann. § 13-2317.
Harp Media B.V. has been directed to immediately cease all online (or other) gambling operations and activities in Arizona, and take the necessary steps to immediately prevent and exclude Arizona residents from gambling on their websites.
“We are actively monitoring the evolving landscape of online gaming and taking proactive steps like this helps us protect Arizonaâs communities and economy from illegal activities,â said Jackie Johnson, Director of the ADG. âOur enforcement team is committed to preventing unauthorized operations from establishing a foothold here. Arizona will not be a safe haven for unlicensed or unlawful gaming, nor will we allow unlawful entities to compromise the integrity of gaming within our state.”
In light of these developments, the Arizona Department of Gaming urges residents to exercise caution with online gaming activities. Only legal, regulated operations provide important consumer protections not found in the illegal market, helping ensure a safer experience for participants. Certain online event wagering is legal in Arizona. A list of all licensed and regulated event wagering operators legally taking bets in Arizona can be found on the Departmentâs website at gaming.az.gov.
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